Richard Thomas Miller Sells 427 Shares of Snap-On (NYSE:SNA) Stock

Snap-On Incorporated (NYSE:SNA) VP Richard Thomas Miller sold 427 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total value of $166,337.85. Following the sale, the vice president directly owned 4,527 shares in the company, valued at approximately $1,763,492.85. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snap-On Stock Up 1.8%

Shares of SNA stock traded up $6.65 during trading hours on Thursday, hitting $385.10. 300,747 shares of the company’s stock traded hands, compared to its average volume of 367,865. The stock’s fifty day simple moving average is $374.00 and its two-hundred day simple moving average is $366.63. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.72 and a beta of 0.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $4.51 earnings per share. Snap-On’s revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s payout ratio is presently 50.39%.

Institutional Trading of Snap-On

Several hedge funds have recently bought and sold shares of SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares in the last quarter. Woodline Partners LP raised its position in shares of Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after buying an additional 233 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after buying an additional 434 shares in the last quarter. Finally, Natixis raised its position in shares of Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after buying an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Tigress Financial upped their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.